How Important Is A Lease Agreement

Another important factor in renting is helping you keep your medical services. If you don`t say exactly how certain situations are handled, you get calls at the worst possible time from angry tenants. “We no longer have oil and its cold in the house,” “we were fined for throwing the garbage on the wrong day,” “where can I get a glue per purchase?” These are all situations that could be avoided if they are clearly explained in a rental agreement. Why should you never waste your time receiving these calls and dealing with problems if you could avoid it? A tenancy agreement is a legally binding contract that binds the landlord and tenant to rent an apartment, a house or a place of residence of the former. Other names in this contract are a lease or lease. As a landlord, you should have this contract in effect for all your tenants. Each lease agreement must indicate between whom the contract is concluded. In the case of a rental agreement, this contract applies between the lessor and/or the broker of the lessor and the tenants who will occupy the property. All tenants over the age of 18 should be mentioned in the tenancy agreement. The address of each party must also be included. This defines the duration of the agreement, i.e. the period of validity of the agreement. Most leases provide for an extension at the end of the term.

Under the Consumer Protection Act (CPA), no lease agreement can be more than two years old. If your contract applies for a period of time. B of six months, you have the option to renew it three times. After two years, landlords and tenants have to sign a new contract – that`s certainly a good idea, because then you get an updated contract. If the tenant remains at the end of the tenancy agreement with an explicit or tacit contract of the owner and the lease is not renewed, the terms of the previous tenancy agreement remain in effect, except that the landlord and tenant have the right to terminate with a termination of the calendar month.